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Some regional banks halted trading Monday after the collapse of Silicon Valley Bank and Signature Bank. The federal government said depositors will not lose their money. CBS News national correspondent Errol Barnett reports on the fallout from Santa Clara, California.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
New weekly jobless claims rose to the highest numbers in five months, and the February numbers are due out Friday. CBS News' Jim Axelrod and Nikki Battiste are joined by Daniel Altman, chief economist for the flexible job platform Instawork.
Federal Reserve Chairman Jerome Powell testified to the Senate Banking Committee Tuesday that interest rates could rise higher and faster than anticipated in an effort to fight inflation. New York Times Federal Reserve and economy reporter Jeanna Smialek joins CBS News' John Dickerson to discuss the comments, plus a new corporate trend that's convincing consumers to spend more on similar products.
Stocks slumped Tuesday after Federal Reserve chair Jerome Powell indicated there will be more interest rate hikes in response to ongoing inflationary pressure.
Economic data is coming in "stronger than expected," the Fed chair told a Senate panel on Tuesday.
Federal Reserve Chair Jerome Powell said interest rates could climb higher than what experts had first predicted. He testified on Capitol Hill on Tuesday as inflation remains stubbornly high. CBS News reporter Sarah Ewall-Wice discussed Powell's latest comments on possible rate hikes and on the looming debt ceiling crisis.
Spending and inflation have sent credit card debt soaring to a record high of nearly a trillion dollars, and credit card companies are offering perks to try to get more people to sign up. Javier E. David, a CBS News contributor and the managing editor for business and markets at Axios, joined Vladimir Duthiers and Anne-Marie Green to discuss what customers need to look out for.
Some policy experts are urging the central bank to stop jacking up interest rates before it tanks the economy.
Although U.S. inflation continues to remain high, it's not stopping Americans from spending on everything from everyday essentials to pricey vacations. A Commerce Department report released Friday found that consumer spending rose 1.8% in January. Michael George has the details.
Can the Fed keep raising interest rates and defeat the worst bout of inflation in 40 years without causing a slump?
The stock market fell on Friday as investors responded to the latest inflation data which came in higher than expected. Brian Vendig, president of MJP Wealth Advisors, joined CBS News to discuss how the latest data could force the Federal Reserve to raise interest rates higher than anticipated.
The stock market stayed relatively flat Wednesday following the release of the Federal Reserve's minutes prior to its last interest rate hike. CapWealth chief investment officer Tim Pagliara joined CBS News to discuss.
Dow Jones Industrial Average made gains Friday but still ended the week in the red. J.D. Durkin, host of "The Street," and Javier David, a CBS News contributor and the managing editor of business and markets at Axios, join CBS News to recap this week's biggest market movers.
The Dow Jones closed in the red Thursday, with rising producer prices expected to fuel inflation. Nancy Davis, founder and and chief investment officer for Quadratic Capital Management, joined CBS News to break down what the rising prices mean for investors going forward.
The stock market saw a sharp rise Monday ahead of the release of the January Consumer Price Index report, and as the last round of large companies prepare to release their 2022 fourth-quarter earnings. Landsberg Bennet Private Wealth Management chief investment officer Michael Landsberg joined CBS News to discuss what the developments mean for investors.
Yahoo is the latest tech company to announce mass layoffs. Courtenay Brown, an economics reporter for Axios, joins CBS News' Errol Barnett and Elaine Quijano to discuss what's behind the layoffs, why they are happening amid historically low unemployment numbers and how the layoffs could affect the Federal Reserve.
Jared Bernstein, a member of the White House Council of Economic Advisers, joined CBS News to discuss the optimistic message in President Biden's State of the Union address and the state of the American economy.
Tech companies large and small are slashing their payrolls, fearing a recession is on the way. Here's a running list.
Prominent Democrats and Republicans on both sides of the aisle are clashing on how to raise the debt ceiling. CBS News reporter Sarah Ewall-Wice discusses how politicians and the public view the debt ceiling.
President Biden is highlighting January's job report after it soared past economists' predictions. Jeanna Smialek, a financial reporter at The New York Times, joins CBS News to discuss what the numbers mean for the state of the U.S. economy and future Fed moves.
The January jobs report showed unemployment at its lowest since 1969, but investors fear the hot economy will bring further interest rate hikes from the Federal Reserve. Lori Bettinger, president of Bancalliance, joined CBS News to discuss why the prospect of a soft landing is looking more likely.
The January jobs numbers crushed expert expectations, with more 517,000 new jobs being reported last month. In addition, the unemployment rate fell to its lowest level in more than 50 years. CBS News business analyst Jill Schlesinger has more.
President Biden and House Speaker Kevin McCarthy met Wednesday to discuss the debt ceiling and open the door for budget cut negotiations. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joins CBS News' John Dickerson to discuss what it would take to balance the budget and what that would do to the economy.
As it continues efforts to combat inflation, the Federal Reserve on Wednesday increased interest rates by a quarter-point. In a statement, the Fed said that further hikes are likely.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Forecasters have warned of another round of winter weather that could complicate travel around the Thanksgiving holiday.
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
Zvi Kogan, 28, an ultra-Orthodox rabbi who went missing on Thursday, ran a Kosher grocery store in the futuristic city of Dubai.
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
Two people were killed and a third was injured when a U.S. Civil Air Patrol plane crashed in Colorado's Front Range Saturday morning.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Forecasters have warned of another round of winter weather that could complicate travel around the Thanksgiving holiday.
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
Orlando is the first team since 2019 to win the NWSL Shield and the title in the same year.
When cyclist Anna Moriah "Mo" Wilson was murdered in Texas, U.S. Marshals assigned to the case used a unique tactic to track down her suspected killer in Costa Rica and bring the fugitive to justice.
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
A jury ruled that Walmart must pay a former employee almost $35 million after finding that the retailer defamed him.
Highly Pathogenic Avian Influenza — also known as bird flu — is killing layer hens and reducing the nation's egg supply.
The following is a transcript of an interview with Sen. Tammy Duckworth, Democrat of Illinois, on "Face the Nation with Margaret Brennan" that aired on Nov. 24, 2024.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
Glioblastoma typically kills within 18 months, but a new type of treatment has kept Nadya El-Afandi's scans clear 17 months after diagnosis.
Laboratory findings show that Yu-Shang Food ready-to-eat meat and poultry products were making people sick, the CDC said.
More than half of the cases involve students, parents and guests of Rockwood Summit High School who attended events where food from Andre's Banquets and Catering was served.
Researchers have identified a chemical in certain tap water across the United States as chloronitramide anion. Here's what to know.
Whole Foods Market stores in five states sold recalled carrots and celery sticks that could contain E. coli.
The drones were spotted between Wednesday and Friday near RAF Lakenheath, RAF Mildenhall and RAF Feltwell.
Zvi Kogan, 28, an ultra-Orthodox rabbi who went missing on Thursday, ran a Kosher grocery store in the futuristic city of Dubai.
The $300 billion will go to developing countries who need the cash to wean themselves off coal, oil and gas.
The adoption ban would apply to at least 15 countries, most of them in Europe, and Australia, Argentina and Canada.
Officials said the man, a tourist in his 60s, was kayaking with friends in the Franklin River when he slipped and became trapped.
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
Lawyers for actor Jonathan Majors and Grace Jabbari agreed to dismiss the case with prejudice, according to a joint filing in Manhattan federal court.
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Early Shirley."
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. The pair opened up to CBS Saturday Morning about their fictional personas and that long hiatus earlier this week.
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Tipsy Woman."
Black Friday is almost here, but some of the hottest tech items are already on sale. CNET senior editor Lisa Eadicicco joins CBS News to discuss high-demand gifts and what retailers offer the best prices.
Daisy's mission is two-fold: To waste scammers' time so they can't speak to real people and to draw attention to fraud by warning consumers to be vigilant.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
The Department of Justice on Wednesday filed a motion calling for Google to sell its Chrome search engine, arguing in court documents that "the playing field is not level." The Justice Department is also recommending dissolving any contracts in which Google is the default search engine on devices such as iPhones. Kelly O'Grady explains.
This winter, the National Oceanic and Atmospheric Administration predicted above-average temperatures throughout the U.S. because of a "slowly developing" La Niña pattern. CBS News Sacramento meteorologist Tracy Humphrey reports on the changing winter conditions.
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
Conservationists are teaming up with the U.S. Forest Service and logging companies to clear scorched land and make room for new reforestation projects.
Large wildfires fueled by climate change have destroyed tens of millions of acres of forests in the Pacific Northwest in recent years. Jonathan Vigliotti explores a major effort underway to restore those forests.
When cyclist Anna Moriah "Mo" Wilson was murdered in Texas, U.S. Marshals assigned to the case used a unique tactic to track down her suspected killer in Costa Rica and bring the fugitive to justice.
Teresa Gomez, 45, was fatally shot in 2023 after a Las Cruces police officer on a bicycle approached her while she sat in a parked car with another person, authorities said.
The police chief killed himself with his own weapon as marines, National Guard and soldiers closed in to try to arrest him, prosecutors said.
Former general Mario Montoya and his family are barred from traveling to the U.S., Secretary of State Antony Blinken said.
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
The ninth Blue Origin space tourism flight launched from West Texas Friday morning. CBS News space consultant Bill Harwood and space expert Scott Heidler offered analysis of the flight.
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Record producer and singer Jack Antonoff sits down with Tracy Smith to discuss his band Bleachers, working with Taylor Swift, and producing the music for Broadway’s “Romeo and Juliet.” Then, Luke Burbank learns about the Aluminaire House, which can now be viewed at the Palm Springs Art Museum. “Here Comes the Sun” is a closer look at some of the people, places and things we bring you every week on “CBS Sunday Morning.”
A promising young athlete is murdered. Her suspected killer disappears and an international manhunt by U.S. Marshals begins. “48 Hours” contributor Jonathan Vigliotti reports. (30-minute show)
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Early Shirley."
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. The pair opened up to CBS Saturday Morning about their fictional personas and that long hiatus earlier this week.
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Tipsy Woman."